Mon, Aug 19, 8:09 PM (148 days ago)
For the quarter ended June 30, 2024, DIH Holding US, Inc. reported revenue of $16.2 million, a 24.1% increase from $13.0 million in the same period last year, driven by higher sales volumes, particularly in the EMEA region. The company achieved a net loss of $0.6 million, significantly improved from a loss of $2.9 million in Q2 2023, attributed to increased gross profit and foreign exchange gains. Operating expenses rose to $10.3 million, reflecting higher professional service costs and public company compliance expenses post-business combination. Cash and cash equivalents decreased to $2.7 million, with negative cash flows from operations of $2.0 million. The company’s accumulated deficit reached $35.8 million. DIH's liquidity has been bolstered by recent convertible debt issuance, securing $2.5 million in net proceeds. The firm faces challenges from supply chain disruptions and inflation but anticipates future revenue growth through operational improvements and market expansion. Overall, DIH is focused on transitioning to profitability while managing its financial obligations and operational costs effectively.